Rental income from these tenants is more than $150,000 per annum, with varying lease terms and rights of renewal.
Vincent says Redwoods has been part of the Kerikeri landscape for almost 75 years. In 1957 Maurice and Shirley Kempthorne bought the site at 1526 Springbank Rd (State Highway 10), laying the foundation for it to become the prosperous commercial hub of today.
The name Redwoods is a direct link to the giant trees, some of which still stand on the northern boundary. The redwoods were milled and used in the construction of the garden centre buildings.
"Meanwhile, the value in the remaining trees is now significant," says Vincent.
John and Robyn Rowe purchased the property in 2013 and developed the varied portfolio of tenants who trade there today.
"The Redwoods Commercial Centre is now a multi-tenanted property offering sound passive returns, but the future development potential is of perhaps even greater significance," says O'Brien.
"It provides an excellent commercial foothold in fast-growing Northland."
Regarded as the 'birthplace of the nation', rich in history and culture, O'Brien says Northland's diverse economy draws on pastoral farming and processing, forestry, horticulture, manufacturing, marine engineering and energy.
"It has a varied range of investable opportunities from its primary and manufacturing sectors.
"Our region is on the cusp of significant expansion; savvy investors are moving in to create new value from the region's resources. These resources are enhanced and supported by an ever-expanding population, as more folk pursue a better quality of life outside of New Zealand's commercial capital," says O'Brien.
Vincent notes that Kerikeri itself has seen significant growth in recent times, "which will only continue as people are drawn to the vast coastline and natural heritage of the area".
